Stellar Plunges 3% as Protocol 23 Upgrade Fails to Spark Rally - What’s Next for XLM?
Protocol 23 lands with a thud—Stellar's much-hyped upgrade triggers immediate 3% selloff instead of moon mission.
The Reality Check
Traders dumped XLM the moment upgrade went live, slicing through support levels like a hot knife through butter. Network improvements? Apparently not what the market ordered.
Upgrade Fatigue Sets In
Another 'revolutionary' protocol update, another disappointment—because nothing gets crypto traders excited like marginal technical improvements nobody actually understands. The 3% drop says it all: show us the adoption, not the code commits.
Where's The Beef?
Smart contracts? Check. Lower fees? Check. Price rally? Absolutely not. Sometimes the market just yawns at technical perfection—welcome to crypto, where fundamentals take a backseat to hype cycles and memes.
- Price declined from $0.368 to $0.358, representing a 2.72% drop over 24-hours.
- Overall trading range reached $0.012, equivalent to 3.26% volatility.
- Clear resistance established at $0.362 level with multiple rejection attempts.
- High volume of 21.47 million during 4 September 13:00 session exceeded 24-hour average of 16.23 million.
- Support zone identified around $0.357-$0.358 appears fragile.
- Accelerating decline in final trading hours suggests continued selling pressure.
- Volume decreased from peak 28.5 million to 16.7 million shares indicating weakening momentum.
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